Registration number: NI652521

Doran Precision Engineering Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Doran Precision Engineering Limited

Company Information

Directors

Ciara McKinstry Patrick Doran Mrs Oonagh Doran Mr Kieran Doran Christopher Doran

Registered office

Unit 4 84B Dundrum Road Industrial Estate Newcastle Co Down BT33 0LN

Doran Precision Engineering Limited

(Registration number: NI652521)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	7,020	9,360
Tangible assets	5	1,993,769	987,330
		2,000,789	996,690
Current assets
Stocks	6	100,000	100,000
Debtors	7	827,024	908,476
Cash at bank and in hand		342,144	759,651
		1,269,168	1,768,127
Creditors: Amounts falling due within one year	8	(701,754)	(594,999)
Net current assets		567,414	1,173,128
Total assets less current liabilities		2,568,203	2,169,818
Creditors: Amounts falling due after more than one year	8	(151,815)	(30,222)
Provisions for liabilities		(247,368)	(163,193)
Net assets		2,169,020	1,976,403
Capital and reserves
Called up share capital	11	100	100
Retained earnings		2,168,920	1,976,303
Shareholders' funds		2,169,020	1,976,403

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Doran Precision Engineering Limited

(Registration number: NI652521)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

......................................... Mrs Oonagh Doran Director

......................................... Mr Kieran Doran Director

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in 20/04/2018.

The address of its registered office is:
Unit 4
84B Dundrum Road Industrial Estate
Newcastle
Co Down
BT33 0LN

These financial statements were authorised for issue by the Board on 17 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fittings	15% Reducing balance
Motor vehicles	25% Reducing balance
Other property, plant and equipment	15% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2024 - 22).

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	23,400	23,400
At 31 March 2025	23,400	23,400
Amortisation
At 1 April 2024	14,040	14,040
Amortisation charge	2,340	2,340
At 31 March 2025	16,380	16,380
Carrying amount
At 31 March 2025	7,020	7,020
At 31 March 2024	9,360	9,360

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	-	75,659	205,732	1,937,834	2,219,225
Additions	881,991	31,477	42,000	261,952	1,217,420
Disposals	-	-	(31,545)	(30,000)	(61,545)
At 31 March 2025	881,991	107,136	216,187	2,169,786	3,375,100
Depreciation
At 1 April 2024	-	39,439	125,220	1,067,236	1,231,895
Charge for the year	-	10,155	22,831	174,383	207,369
Eliminated on disposal	-	-	(27,933)	(30,000)	(57,933)
At 31 March 2025	-	49,594	120,118	1,211,619	1,381,331
Carrying amount
At 31 March 2025	881,991	57,542	96,069	958,167	1,993,769
At 31 March 2024	-	36,220	80,512	870,598	987,330

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stocks

	2025 £	2024 £
Other inventories	100,000	100,000

7

Debtors

	2025 £	2024 £
Trade debtors	760,300	644,049
Other debtors	66,724	264,427
	827,024	908,476

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	435,258	51,266
Trade creditors		73,172	217,773
Taxation and social security		122,154	194,885
Accruals and deferred income		69,775	64,351
Other creditors		1,395	66,724
		701,754	594,999

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	151,815	30,222

Doran Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	151,815	30,222

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	(290)	(290)
Hire purchase contracts	82,273	50,967
Other borrowings	353,275	589
	435,258	51,266

10	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Repayments by director £	At 31 March 2025 £
Directors' loan account	(197,113)	550,387	353,275

2024	At 1 April 2023 £	Advances to director £	At 31 March 2024 £
Directors' loan account	540	(197,653)	(197,113)

11	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of £1 each	100	100	100	100